PRNewswire-FirstCall/ -- PolyOne Corporation (NYSE: POL) and Zyvex Performance Materials announced they have landed nearly $5 million in grant money from the state of Ohio to further development and production of carbon-nanotube composites for use in manufacturing.
The funds came from Ohio's Third Frontier program, created to increase high-tech research capabilities by promoting collaborative innovation.
Cecil Chappelow of PolyOne expects the development efforts to yield a significant portfolio of next-generation thermoplastic materials based on carbon nanotubes.
Funding will be used to support ongoing development work initiated several months ago under a joint development agreement between PolyOne and Zyvex to produce carbon nanotube-filled thermoplastics for structural and electrically conductive applications.
“(This) will also allow us to accelerate our hiring plans and more rapidly introduce our technology commercially,” said Lance Criscuolo, president of Zyvex.
Based in Columbus, Ohio, Zyvex Performance Materials is focused on developing nanotechnology to improve the properties of composite materials. The company was featured in an October 2008 Manufacturing & Technology eJournal article about nanotechnology http://www.mfrtech.com/articles/1364.html
For more information about Zyvex visit http://www.zyvexpro.com/
PolyOne Corporation, with 2008 annual revenues of $2.7 billion, is a provider of specialized polymer materials, services and solutions. Based near Cleveland, Ohio, PolyOne has operations around the world.
For more information about PolyOne visit http://www.polyone.com
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